Piper Sandler Trims CONMED (NYSE:CNMD) Target Price to $95.00

CONMED (NYSE:CNMD) had its target price lowered by equities researchers at Piper Sandler from $100.00 to $95.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 35.96% from the stock’s current price.

A number of other research firms also recently weighed in on CNMD. JPMorgan Chase & Co. dropped their price target on shares of CONMED from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Wells Fargo & Company lowered their price objective on shares of CONMED from $107.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, February 1st. Finally, Needham & Company LLC lowered their target price on CONMED from $129.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.57.

CONMED Stock Performance

NYSE:CNMD opened at $69.88 on Thursday. The firm has a 50-day moving average price of $78.80 and a 200 day moving average price of $93.89. The company has a quick ratio of 0.96, a current ratio of 1.98 and a debt-to-equity ratio of 1.17. CONMED has a 12-month low of $69.78 and a 12-month high of $138.47. The firm has a market capitalization of $2.15 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 0.65 and a beta of 1.33.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. CONMED had a return on equity of 13.69% and a net margin of 5.18%. The firm had revenue of $312.27 million during the quarter, compared to analysts’ expectations of $307.06 million. Research analysts anticipate that CONMED will post 4.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNMD. SG Americas Securities LLC bought a new position in shares of CONMED in the third quarter worth approximately $2,387,000. Mountain Pacific Investment Advisers Inc. ID lifted its position in shares of CONMED by 8.7% during the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 144,376 shares of the company’s stock worth $14,560,000 after purchasing an additional 11,538 shares during the last quarter. AMI Asset Management Corp increased its position in shares of CONMED by 13.2% in the 3rd quarter. AMI Asset Management Corp now owns 43,725 shares of the company’s stock valued at $4,410,000 after acquiring an additional 5,085 shares during the period. Raymond James & Associates boosted its holdings in shares of CONMED by 2.6% in the 3rd quarter. Raymond James & Associates now owns 82,959 shares of the company’s stock valued at $8,366,000 after acquiring an additional 2,131 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in CONMED by 4.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,095 shares of the company’s stock valued at $312,000 after acquiring an additional 140 shares during the period.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.